Corn Market Declines Amid Modest Export Sales Report

The corn market is experiencing losses of 2 to 4 cents on Friday. The front month CmdtyView national average Cash Corn price is down 2 ¼ cents, currently at $4.19.

This morning, the USDA reported a private export sale of 210,560 MT to unknown destinations, with 145,560 MT slated for 2024/25 shipment and 65,000 MT for 2025/26.

Export Sales data revealed 916,712 MT sold for the 2024/25 season, which was within traders’ estimates of 0.75 to 1.4 MMT for the week of May 22. This figure is a seven-week low yet still 13.2% above last year’s numbers. The largest buyer was Japan, purchasing 214,400 MT, followed by Mexico at 201,500 MT and Colombia with 157,900 MT. New crop sales totaled 31,000 MT, on the lower end of expectations ranging from 25,000 to 400,000 MT.

Brazil’s corn crop estimate has been increased by Safras & Mercado by 3.89 MMT, reaching 139.03 MMT, driven by a 3.82 MMT rise in their second crop projection. In comparison, the USDA estimates Brazil’s crop at 130 MMT.

Jul 25 Corn is currently at $4.44 1/2, down 2 1/2 cents.

Nearby Cash is priced at $4.19 1/1, reflecting a 2 1/4 cent decrease.

Sep 25 Corn has reached $4.24, down 3 1/4 cents.

Dec 25 Corn is at $4.39, decreasing by 2 1/4 cents.

New Crop Cash is currently at $3.96 1/2, down by 3 cents.

On the date of publication, Austin Schroeder did not hold positions in any of the mentioned securities. All data is for informational purposes. For further details, please view the Barchart Disclosure Policy here.

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